Save Article

Conoco Confirms Talks to Buy
Assets From TransTexas Gas

HOUSTON -- Conoco Inc., a unit of DuPont Co., said it is in negotiations with TransTexas Gas Corp. to buy its Lobo field assets, a giant natural gas field and related pipeline system in Texas.

TransTexas confirmed that it is in exclusive talks to sell the assets for about $1.1 billion but wouldn't disclose the name of the potential buyer. A Conoco spokesman said DuPont's board had approved the purchase in principle provided a definitive agreement is reached.